Australian shares edge higher ahead of GDP

SarahTurner

SYDNEY (MarketWatch) -- Australian shares edged higher in early trading on Wednesday, with the S&P/ASX 200 index
XJO, +0.78%
up 0.1% at 4,507.40. Gross domestic product data were due in just over an hour's time and investors are keen to see how the economy performed over the third quarter. National Australia Bank Ltd.
au:nbaNAUBF, +5.22%
edged up 0.1% after it said that it would pass on 20 basis points of the Reserve Bank of Australia's 25 basis point cut made Tuesday to its customers. Australia & New Zealand Banking Group Ltd.
ANZ, +0.77%ANEWF, -0.12%
gained 0.2% while Commonwealth Bank of Australia
CBA, +0.32%CBAUF, -2.34%
rose 0.3%. On the downside, gold miner Newcrest Mining Ltd.
NCM, +0.60%NCMGF, -0.79%
fell 1.6% and OceanaGold Corp.
OGC, +0.00%
fell 12.8% after gold futures tumbled in New York on Tuesday.

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